Ximen Mining Corp (CVE:XIM) (OTCMKTS:XXMMF) announced it has arranged a non-brokered private placement of 1 million units at a price of $0.25 per unit to raise gross proceeds of $250,000.
The Vancouver-based company also announced it has closed its previously announced non-brokered private placement of 1.8 million flow-through shares at a price of $0.30 per share for gross proceeds of $540,000.
READ: Ximen Mining arranges $540,000 private placing
The net proceeds from the offering will be used by Ximen for exploration expenses on the company’s British Columbia mineral properties.
Ximen owns 100% interest in all three of its precious-metal projects. Ximen's two gold projects, The Gold Drop project and the Brett Gold project, are in southern British Columbia.
Each unit in the non-brokered placement consists of one common share and one transferable common share purchase warrant. Each whole warrant will entitle the holder to purchase, for a period of 24 months from the date of issue, one additional common share at an exercise price of $0.30 per share.
Christopher Anderson, CEO and director, and Wesley Warthe-Anderson, director, participated in the offering by subscribing for a total of 350,000 shares.
The company, which engages in the acquisition, exploration and evaluation of mineral properties in British Columbia, has granted 800,000 stock options at an exercise price of $0.30 and 500,000 restricted share units (RSUs) to its directors, officers, employees and consultants.
Contact Rene Pastor at rene.pastor@proactiveinvestors.com